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Leading Success: Gaining Relevancy & Profitability Through Leadership

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Leading Success: Gaining Relevancy & Profitability Through Leadership …

Leading Success: Gaining Relevancy & Profitability Through Leadership
Marty Rueter, President
Weichert Real Estate Affiliates, Inc.

Published in: Real Estate

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Transcript

  • 1. Thanks for inviting me!
    MARTIN RUETER GRI, CRS
    President
    Weichert Real Estate Affiliates, Inc.
  • 2. Deep roots…
    SOBGSOBGGNOBHOBBOB
    COB
    Charles W. Rueter
    “The Man on the Spot”
  • 3. 1961
  • 4. A business worth owning today?
  • 5. A career worth having today?
    Going down!
  • 6. A bright future?
  • 7. Are we next?
  • 8. Is our service desired?
    Why do customers call us?
    Do we meet their expectations?
    Every time?
    Are we structured for service?
    RELEVANCY
  • 9. Does our value match our price?
    People in real estate say the same thing.
    How are you different?
    Are you really better?
    Why should I list with you or work for you?
  • 10. The same tools and resources
    A more level playing field
  • 17. Everyone has a Brand.
    Every brand acquires adjectives.
    Whether correct or not…
  • 21. What’s underneath?
  • 22. Are cosmetic changes enough?
  • 23. Beliefs…
    “All of us have the agents we deserve.”
    “There’s no such thing as bad business, there’s only bad management.”
  • 24. Things have changed.
  • 25. Emboldened consumers…
  • 26. Desperate housewives?
    “They’re willing to throw in their kidneys.”
  • 27. Too much money down…
  • 28. Free fall…
  • 29. A topsy-turvy world…
    “I don’t think we’re in Kansas anymore!”
  • 30. New, different customers
    The generation gap in real estate is widening.
  • 31. 247 million
    real estate websites!
  • 32. Generation Text!
  • 33. A different kind of agent…
  • 34. Empty cubicles…
  • 35. In search of customers…
    How do we keep consumers using us?
  • 36. In search of professionalism…
    WE MUST…
    Elevate our expertise.
    Do more.
    Become trusted advisors.
    RELEVANCY
  • 37. In search of service…
    Relocation Mortgage Title Insurance
    Home Protection Home Connections
    RELEVANCY
  • 38. In search of systems…
    Systems ensure that what needs to be done gets done consistently for every customer by every agent.
    Systems never forget!
    RELEVANCY
  • 39. The E-Myth Michael Gerber
    Rather than relying on the skills of great people, the business empowers ordinary people to perform in extraordinary ways. The System runs the business. The people run the systems.
    If you can build a business that works and thrives without you, you have put yourself in control of both your business and your life. On the other hand, if your business depends on you, you don’t own a business – you have a job.
  • 40.
    • Systems drive the business.
    • 41. People drive the systems.
    • 42. Great leaders drive the people.
    It takes all three.
  • 43. “Three Crises”
    Purpose
    Profitability
    Leadership
  • 44. Crisis of Purpose
    VISION
    GOALS
    EXECUTION
  • 45. Who’s our customer?
    We have too long focused on the agent as our primary customer.
    The consumer should be paramount.
    Most offices still follow a flawed agent-centricbusiness model.
  • 46. Agent Centric
    Consumer
    Agent
    Broker
    Are you adhering to an outdated business model?
  • 47. Consumer Centric
    Broker
    Agent
    Consumer
    The office becomes the agent’s “personal assistant.”
    The office introduces its ancillary services.
  • 48. Personal Marketing
    How many versions of your office are out there?
    I am the greatest!
  • 49. Egos bigger than a house!
  • 50. “We’re just looking…”
    How many versions of your office are out there?
  • 51. Crisis of Profitability
    “You never go broke taking a profit.”
    ~William H. Rueter
    “Marty, you have a math problem.”
    ~James M. Weichert
  • 52. Staying in business
    For the past five years, staying in business has
    been our main priority.
    We’ve adapted.
  • 53. We’ve adapted.
  • 54. We’ve slashed and burned!
    Office expenses at 2000 levels.
  • 55. We became salesmen again.
  • 56. Are you building an asset?
    You can cut costs to achieve profitability.
    But you can’t cut costs to achieve prosperity.
    You must substantially increase revenues.
  • 57. Get back to GROWING!
    • Recruiting
    • 58. Training/Coaching
    • 59. More Company Leads
    • 60. Manage every one until they buy or die!
    • 61. Ancillary Services
  • A business worth owning?
    • Profit is essential in creating value and wealth.
    • 62. Profit is measured minus the broker’s personal sales.
    • 63. Profit also considers the cost of managing the business.
    • 64. Value of business is a multiple of the adjusted profit.
  • Profit is not a four letter word.
    Increase revenue
    Manage the middle line
    • Escalating splits
    • 68. Rolling quarter averaging
    • 69. Company vs. agent generated
    Contain expenses
  • 70. Crisis of Leadership
  • 71. More than managing…
    • More than managing
    • 72. Knowing where you’re going
    • 73. Getting them to follow
    • 74. Unified thinking
    • 75. Consistent but flexible
    • 76. A fun place to be around!
    Few of us are born leaders.
    The rest of us must learn leadership.
  • 77. Lots of Vitamin C…
  • Collaboration…
    Advisory Groups
    Front Line
    Power groups
    Quality meetings
  • 85. Collaborative Facilities
  • 86. Flying together as ONE…
    UNIFIED THINKING
    UNIFIED DIRECTION
  • 87. Which dinosaurs must go?
  • 88. Some have already left…
    Wasteful advertising
    Money draining branches
    Excess space
    Unnecessary management
  • 89. Recycling of agents
    Fresh blood invigorates a stagnant sales force.
    We must redefine “experience.”
    A mix of genders, sexes and networks.
  • 90. The numbers game
  • 91. One size fits all…
    Agents should profitably fit your business model… versus changing the model to fit them!
    59
  • 92. Too many trophies…
    Building a Solid Middle
    “A” Agents – top producers
    “B” Agents – solid citizens
    “C” Agents –rebels
    “D” Agents – rookies
  • 93. Split madness…
    Biggest hot buttons for productive agents:
    LEADS
    Company marketing
    Coaching
    Cool facilities
    Bundled technology
    61
  • 94. Regionalization…
    WHY IT’S OCCURRED?
    Consolidation of MLS’s.
    During “run-up” market, due to lack of listing inventory.
    In market downturn, desperation to go anywhere for sale.
    Fewer sales facilities covering larger territories.
    Photos on Internet.
  • 95. The next BATTLEGROUND will
    shift from the internet
    back to the
    point of sale.
  • 96. EVERY Point of Sale!
    Meeting
    Interviewing
    Presenting
    Qualifying
    Open houses
    Listings
    Showing property
    Area Tour
    Presenting offers
    Any interaction
  • 97. It’s show time!
    CO-STARRING
    YOU
    YOUR TEAM
    YOUR NETWORK
  • 98. Associate Interviews
    50/50 meet at first listing or office.
    Majority of take separate vehicles when showing properties.
    No area tours in showing process.
    Associates frustrated over volume of listings shown without sale.
    Most refer customers to loan rep.
    Most cover multiple counties.
  • 99. Findings…
    Overall our Sales Associates are NOT:
    Conducting a structured meeting with buyers.
    Formally eliciting and recording their key wants, needs and priorities.
    Methodically and systematically previewing every property in their market area.
    Consistently using tools, materials and brochures to help differentiate them and build buyer loyalty.
    Positioning the introduction to the GSM as the person who can discuss with them all the services they’re entitled to as a Weichert® customer.
  • 100. Findings…
    They ARE:
    Getting to know the buyers in the car or through the process of looking at houses.
    Setting them up for auto e-mail distribution based on simple criteria such as # of Bedrooms, bathrooms, etc.
    Showing them properties the buyers saw on the Internet versus selecting properties based on buyer needs and wants.
    Allowing the buyers to drive the process versus the other way around.
  • 101. Some things are certain...
    In the next ten years we will see more changes than in the past twenty.
    Change occurs with us or without us.
  • 102. “When it comes to the future, there are three kinds of people: those who let it happen, those who make it happen, and those who wonder what happened.”
    ~ John M. Richardson
    Tomorrow…
    70

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